{"id":2668,"date":"2025-12-02T17:16:45","date_gmt":"2025-12-02T17:16:45","guid":{"rendered":"https:\/\/radio-newyork.com\/?p=2668"},"modified":"2025-12-02T17:16:45","modified_gmt":"2025-12-02T17:16:45","slug":"the-prada-group-has-officially-purchased-milan-fashion-rival-versace-for-1-375-billion","status":"publish","type":"post","link":"https:\/\/radio-newyork.com\/?p=2668","title":{"rendered":"The Prada Group has officially purchased Milan fashion rival Versace for $1.375 billion"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

MILAN — The Prada Group closed the purchase of Milan fashion rival Versace<\/a> in a $1.375 billion cash deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada\u2019s \u201cugly chic\u201d aesthetic and Miu Miu\u2019s youth-driven appeal.<\/p>\n\n\n\n

The highly anticipated deal is expected to relaunch Versace\u2019s fortunes, after middling post-pandemic performance as part of the U.S. luxury group Capri Holdings.<\/p>\n\n\n\n

Prada said in a one-line statement that the acquisition had been completed after receiving all regulatory clearances. Capri Holdings, which owns Michael Kors and Jimmy Choo, said the money would be used to pay down debt.<\/p>\n\n\n\n

Donatella Versace welcomed the deal in an Instagram post, which also marked the birthday of the brand’s late founder, her brother, Gianni Versace.<\/p>\n\n\n\n

\u201cToday is your day and the day Versace joins the Prada family. I am thinking of the smile you would have had on your face,” she wrote in a post that also featured a 1979 photo of Gianni Versace with Miuccia Prada.<\/p>\n\n\n\n

Prada heir Lorenzo Bertelli<\/a> is set to steer Versace\u2019s next phase as executive chairman, in addition to his roles as group marketing director and sustainability chief.<\/p>\n\n\n\n

The son of co-creative director Miuccia Prada and longtime Prada Group chairman Patrizio Bertelli has said he doesn\u2019t expect to make any swift executive changes at Versace, although he also noted that the company, which is among the top 10 most recognized brands in the world, has long been underperforming in the market.<\/p>\n\n\n\n

Prada<\/a> has underlined that the 47-year-old Versace brand offered \u201csignificant untapped growth potential.\u2019\u2019<\/p>\n\n\n\n

Versace is undergoing a creative relaunch under a new designer, Dario Vitale, who previewed his first collection during Milan Fashion Week in September. He was previously head of design at Miu Miu, but his move to Versace was unrelated to the Prada deal, executives have said.<\/p>\n\n\n\n

Capri Holdings paid $2 billion for Versace in 2018, but had been struggling to position the brands\u2019 bold profile in the recent era of \u201cquiet luxury.\u2033<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

MILAN — The Prada Group closed the purchase of Milan fashion rival Versace in a $1.375 billion cash deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada\u2019s \u201cugly chic\u201d aesthetic and Miu Miu\u2019s youth-driven appeal. The highly anticipated deal is expected to relaunch Versace\u2019s fortunes, after middling post-pandemic performance as […]<\/p>\n","protected":false},"author":2,"featured_media":2669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nThe Prada Group has officially purchased Milan fashion rival Versace for $1.375 billion - Radio New York<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/radio-newyork.com\/?p=2668\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Prada Group has officially purchased Milan fashion rival Versace for $1.375 billion - Radio New York\" \/>\n<meta property=\"og:description\" content=\"MILAN — The Prada Group closed the purchase of Milan fashion rival Versace in a $1.375 billion cash deal that puts the fashion house known for its sexy silhouettes under the same roof as Prada\u2019s \u201cugly chic\u201d aesthetic and Miu Miu\u2019s youth-driven appeal. 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